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In a region which has shown both extensive investment and increased instability over the past few years, MEA merits a significant degree of technically minded and industry-focused coverage.
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NNPCL clarifies reasons for reducing stake in Dangote
The Nigerian National Petroleum Co. Ltd. (NNPCL) has released a statement clarifying reasons for reducing the company’s stake in Dangote Refinery from 20% to 7.2%.
Iran connects South Pars Phase 14 refinery to gas network
South Pars Phase 14 refinery has been connected to Iran’s national gas network to help fuel the country’s industry and provide more stable supply.
Saudi shipper Bahri signs deal for nine oil tankers
Bahri has signed a deal to acquire nine VLCCs for $1bn
Iraq increases production at Sumood refinery, plans to diversify economy
Iraq’s Oil Minister Ihsan Abdul Jabbar has ordered the country’s Sumood refinery in Baiji to increase production from 75,000 barrels per day (bpd) to 280,000 bpd, according to the country’s oil ministry statement released August 17.
Lebanon left without supply deal following financial concerns
Iraq has said that it will not be renewing an agreement to supply fuel in exchange for services with Lebanon following the emergence of numerous financial concerns – according to Leb Economy, which quoted several high-level Lebanese sources.
DMEA: CJ Logistics completes operation in Iraq
Port Harcourt refinery to begin production this month
The Independent Petroleum Marketers Association of Nigeria has revealed that the country’s 210,000 bpd Port Harcourt refinery may begin production this month
Iran set to hold IPO for Persian Gulf Star Refinery
Iran has announced that it plans to list shares of the Persian Gulf Star Refinery (PGSR) in a bid to increase flows of liquidity into the facility.
CJ Logistics completes operation in Iraq
South Korean logistics company CJ Logistics revealed on August 12 that it had completed a project logistics operation in Iraq through its Middle Eastern subsidiary CJ ICM, moving 1.1mn tonnes of heavy cargo for oil refining facilities.
KPC opens trading office as merger momentum builds
The state-owned Kuwait Petroleum Corp. has become the latest Gulf NOC to expand its global trading footprint, opening a new trading hub in Dubai.
Shell, BP to support operational costs at Sapref refinery following sale
Shell and BP are set to pay $15mn to South Africa’s state-run Central Energy Fund to support operational costs at the 180,000 barrels per day Sapref refinery – a plant that is currently being sold by the two oil majors.
Kurdistan's regional government closes illegal refineries over environmental concerns
Iraq’s Erbil province – located in the country’s Kurdistan region – has shut down around 125 illegal refineries over two days (August 11 and 12), authorised by the region’s governor, Omed Khoshnaw.
Nigeria's Dangote Refinery laments crude oil shortages as NUPRC fails to enforce supply regulations
Natural gas producer Orca Energy to claim $1.2bn in contractual dispute with Tanzania and TPDC
DMEA: Aramco becomes majority shareholder in Petro Rabigh
Port Harcourt Refinery set to fully reopen in August
The Port Harcourt Refinery, one of Nigeria’s key oil processing facilities, is set to become fully operational this month.
Nigeria Senate criticises $1.5bn expenditure on Port Harcourt Refinery for lack of visible results
Swiss conglomerate Glencore invests $175mn in rebuilding oil refinery, takes $611mn coal impairments in South Africa
Swiss commodity multinational Glencore suffered $611mn in impairments related to its coal business in South Africa in the first half of 2024 due to export logistics challenges that have afflicted the economy for years.
Iran’s petrochemical sector spared from power cuts but steel industry hit badly
Iran’s petrochemical industry has been largely spared from power outages during the summer peak while the steel industry has borne the brunt, with production taking a nosedive, according to a union leader and official data.
Wrong policies blamed for Iran’s ‘mega’ energy crisis
An Iranian union leader on August 7 blamed “wrong” government policies for Iran’s widening petrol deficit which is part of what a lawmaker called a “mega” energy crisis.
Aramco becomes majority shareholder in Petro Rabigh
Saudi Aramco has signed a definitive agreement worth $702mn to purchase a 22.5% stake in an integrated refining and petrochemical complex named Rabigh Refining and Petrochemical Co. from Sumitomo Chemical.
Angola continues to push for energy security
Angola’s three new domestic refineries are nearing completion, and are set to increase the country’s refining capacity to around 400,000 barrels per day.
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